PennyMac Financial Services, Inc. (NYSE:PFSI) Given Average Rating of "Moderate Buy" by Brokerages

PennyMac Financial Services, Inc. (NYSE:PFSI - Get Free Report) has been assigned a consensus rating of "Moderate Buy" from the six brokerages that are currently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $121.17.

A number of research firms recently commented on PFSI. UBS Group reduced their price target on PennyMac Financial Services from $115.00 to $110.00 and set a "neutral" rating for the company in a report on Wednesday, April 16th. Keefe, Bruyette & Woods upgraded PennyMac Financial Services from a "market perform" rating to an "outperform" rating and set a $114.00 target price for the company in a research note on Tuesday, April 8th. Wells Fargo & Company reduced their target price on PennyMac Financial Services from $125.00 to $120.00 and set an "overweight" rating for the company in a research note on Thursday, April 24th. Finally, Piper Sandler reduced their price objective on shares of PennyMac Financial Services from $130.00 to $128.00 and set an "overweight" rating for the company in a research report on Wednesday, April 23rd.

Insider Transactions at PennyMac Financial Services

In other PennyMac Financial Services news, Director Joseph F. Mazzella sold 11,000 shares of the business's stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $98.23, for a total value of $1,080,530.00. Following the completion of the sale, the director now owns 92,863 shares of the company's stock, valued at $9,121,932.49. The trade was a 10.59% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Mark Elbaum sold 410 shares of the business's stock in a transaction dated Friday, April 4th. The shares were sold at an average price of $102.88, for a total transaction of $42,180.80. Following the completion of the sale, the insider now directly owns 4,207 shares of the company's stock, valued at $432,816.16. This represents a 8.88% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 39,579 shares of company stock worth $3,945,042 over the last quarter. Company insiders own 15.80% of the company's stock.

Institutional Investors Weigh In On PennyMac Financial Services

Institutional investors have recently made changes to their positions in the stock. Rhumbline Advisers lifted its position in shares of PennyMac Financial Services by 1.0% during the 4th quarter. Rhumbline Advisers now owns 41,529 shares of the real estate investment trust's stock valued at $4,242,000 after acquiring an additional 414 shares during the period. State of New Jersey Common Pension Fund D lifted its position in shares of PennyMac Financial Services by 4.0% during the 4th quarter. State of New Jersey Common Pension Fund D now owns 20,017 shares of the real estate investment trust's stock valued at $2,045,000 after acquiring an additional 766 shares during the period. New York State Common Retirement Fund lifted its position in shares of PennyMac Financial Services by 6.1% during the 4th quarter. New York State Common Retirement Fund now owns 71,065 shares of the real estate investment trust's stock valued at $7,259,000 after acquiring an additional 4,077 shares during the period. Bank of New York Mellon Corp lifted its position in PennyMac Financial Services by 22.7% during the fourth quarter. Bank of New York Mellon Corp now owns 198,897 shares of the real estate investment trust's stock worth $20,315,000 after purchasing an additional 36,800 shares during the period. Finally, MorganRosel Wealth Management LLC lifted its position in PennyMac Financial Services by 60.4% during the fourth quarter. MorganRosel Wealth Management LLC now owns 11,728 shares of the real estate investment trust's stock worth $1,198,000 after purchasing an additional 4,416 shares during the period. 57.87% of the stock is currently owned by institutional investors.

PennyMac Financial Services Stock Up 0.7%

PFSI stock traded up $0.66 during trading hours on Thursday, reaching $95.32. 334,003 shares of the stock were exchanged, compared to its average volume of 319,486. The company has a debt-to-equity ratio of 2.96, a current ratio of 0.30 and a quick ratio of 0.30. The company has a market cap of $4.92 billion, a price-to-earnings ratio of 14.62, a PEG ratio of 0.19 and a beta of 1.55. PennyMac Financial Services has a 12 month low of $85.74 and a 12 month high of $119.13. The firm's 50-day moving average is $96.56 and its 200-day moving average is $100.09.

PennyMac Financial Services (NYSE:PFSI - Get Free Report) last released its earnings results on Tuesday, April 22nd. The real estate investment trust reported $1.42 earnings per share for the quarter, missing analysts' consensus estimates of $2.99 by ($1.57). The business had revenue of $430.90 million during the quarter, compared to the consensus estimate of $520.42 million. PennyMac Financial Services had a net margin of 20.27% and a return on equity of 14.78%. During the same period last year, the business posted $0.74 EPS. On average, equities research analysts expect that PennyMac Financial Services will post 13.77 earnings per share for the current year.

PennyMac Financial Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 23rd. Stockholders of record on Wednesday, May 14th were issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.26%. The ex-dividend date was Wednesday, May 14th. PennyMac Financial Services's dividend payout ratio is presently 18.40%.

PennyMac Financial Services Company Profile

PennyMac Financial Services, Inc, through its subsidiaries, engages in the mortgage banking and investment management activities in the United States. The company operates through three segments: Production, Servicing, and Investment Management. The Production segment is involved in the origination, acquisition, and sale of loans.